BPCE brings French RMBS with €1bn senior tranche

By Tom Brown
23 Sep 2020

Groupe BPCE is bringing a French residential mortgage-backed security, offering a €1.09bn senior note with a coupon of 65bp over three month Euribor.

BPCE owns more than 70% of Natixis, sole bookrunner on the deal and lead manager alongside Bank of America.

A granular portfolio of well seasoned prime French fixed rate mortgage loans is backing the transaction, with an average life of 46 months and equalling around €1.25bn, making the RMBS ...

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